In this podcast interview, journalist Megan Greenwell talks about private equity’s impact on the crafts industry, specifically on JOANN. Megan is the author of Bad Company: Private Equity and the Death of the American Dream.
Design Group Americas (DGA), parent company of the Big 4 sewing pattern brands, announced on Friday that it has voluntarily filed for Chapter 11 bankruptcy.
Golden Peak Media, a media and education company serving craft enthusiasts, has acquired Creativebug, a platform previously owned by Joann.
Irving, Texas-based craft store chain, Michaels, has acquired the intellectual property and private label brands of Joann, which filed for bankruptcy in January of this year.
The closure of Joann is the end of an era according to Tiffany Windsor, the daughter of the founder of Aleene’s Tacky Glue.
JOANN, an 80-year-old retailer, is seeing a second bankruptcy limp towards liquidation, with bids due next week.
How JOANN Fabrics, entering its second bankruptcy in a year, simultaneously destroyed shareholder value along with the joys of crafting.
Ditto, a joint venture between JOANN and Singer, is the first pattern projector made for home sewists. The product launched at New York Fashion Week last week and will be sold at JOANN and at Singer dealers.
If you have a product that you’d like to sell to a big box craft retailer, working with Creative Sales Consulting can ensure that you’re able to prove product-market fit, meet packaging requirements, and have supply chain and logistics ready.
JOANN is launching a small business wholesale site similar to Darice that will include every SKU at JOANN with a $50 minimum order.